Mortgage exit charges

gritts

I had some success too thanks to Scott's method mentioned two posts up.

I'm moving my mortgage from RBS to Nationwide and was hit with a £225 sealing fee.

I wrote to them and used the line about being supplied with a rate of interest for comparison when signing up and this rate has to include any sealing/exit/deeds release fees.

If they disagreed then they needed to supply me with a deadlock letter for the FSA.

I promptly recieved a letter reducing the sealing fee to £100 (I would guess this was the level of fee when I took my mortgage out). £125 reduction.

A point to note for mortgage companies was that I had the same offer from Nationwide and Alliance and Leicester when planning to move my mortage. BUT sealing fee with A&L £295, Nationwide £95. Nationwide here I come.

gritts

Damn..... 2001!

I could not find any mention in the paperwork of the original sealing fee. Typical, there's me thinking I got a big victory and then the bank has the last laugh.

Thanks again Scott

Rik_S

I called A&L today to find out why they had not responded to my past 3 letters and answerphone message.
They asked if they could ring me back later on and (suprisingly!) they did. They are going to send me a covering letter offering me £150-00 refund on my mortgage redemption....I nearly fell off my chair!!

A bit of a result!

Munkalaada

We are in the process of paying off our mortgage with NatWest and they have included a Sealing Fee of £225 on the Redemption Statement.

I have checked all the paperwork for when we took the mortgage out in April 1986 and can find no mention of the charge for this then.

Does anyone know what the Sealing Fee was at (or around about) that date?

I intend to challege it but don't want to request the information from them and add some more funds to their vast coffers (even if it will only cost £10 to get the information from them)!

Munkalaada

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